Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Walt Disney Co    DIS

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

The Walt Disney Company : Disney beats estimates, sees stronger quarters ahead

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/06/2013 | 04:06am CET

Walt Disney Co beat estimates in quarterly adjusted earnings on Tuesday and said it expects the next few quarters to be better on a stronger lineup of films and growing attendance at its theme parks.

The results, which come despite the rising costs of acquiring programming for its ESPN sports juggernaut and included its interactive unit swinging back to profit, helped lift shares in the media giant 1.7 percent in after-hours trading.

Net income for its fiscal first quarter fell 6 percent to $1.38 billion. But on an adjusted basis, it posted earnings of 79 cents a share, ahead of the 76 cents forecast by analysts, according to Thomson Reuters I/B/E/S.

"We're very pleased with our first-quarter results, which set the stage for continued growth in 2013, following a year of record revenue, net income and earnings per share in 2012," Disney Chief Financial Officer Jay Rasulo said during a call with analysts.

Disney, which bought the iconic "Star Wars" series with its$4.06 billion acquisition of director George Lucas' Lucasfilm of in October, also plans to produce movies based on Lucas properties other than "Star Wars", said Chairman and CEO Bob Iger.

"We have a few scripts in mind," Iger said.

Disney intends to release a new "Star Wars" film in 2015, and plans a new installment every two or three years, and has signed "Star Trek" director J.J. Abrams to direct the first one.

Iger also said that the company intends to leverage the "Star Wars" brand across other areas of Disney's business.

Operating profit at Disney's Media Network's division, the largest of its five units, increased by 2 percent although earnings at its cable operations were lower due to higher costs for ESPN to carry college football and NFL.

Rasulo also said Disney was "exploring an exit" from its ESPN operation in the U.K., adding that the sports channel "had experienced losses due to the ramp-up and newness of that business to us."

Disney's theme park unit benefited from higher attendance at its domestic theme parks, driven by the new Cars Land attraction it opened at California Adventure in Anaheim, Calif. in June, although higher labor costs at its Disneyland Paris parks weighed.

Iger said price hikes at Disney's parks are possible as it continues to roll out new attractions.

"We've got some price leverage," he said. "If you build the right things not only will people come but you get some leverage out of it as well."

Earnings fell 5 percent at Disney's studios, which it attributed to a stronger slate a year earlier powered by Cars 2 -- a film that had worldwide ticket sales of $559.8 million, according to the movie site Box Office Mojo.

Its interactive division swung to a profit of $9 million from a loss of $28 million in the prior quarter, although Iger and Rasulo said it would likely revert to a loss in the coming quarter because it has fewer new products to sell.

"There were no real surprises, although interactive was probably what surprised us the most on the upside," said David Bank, an analyst with RBC Capital Markets.

ABC has sold out its advertising for the upcoming Academy Awards on February 24, the best selling pace in more than a decade. Rasulo said the Oscars had been virtually sold out by Christmas.

Ad Age reported that Disney has been commanding between $1.65 million and $1.85 million for a 30-second spot in this year's Oscar broadcast, citing media buyers and others familiar with the tone of the negotiations.

That's up from the $1.6 million to $1.7 million ABC secured for the 2012 Oscars telecast, Ad Age said.

David Miller, analyst with B. Riley Caris, said he was surprised not to see Disney report any charges related to its Lucasfilm acquisition and expects the company may yet announce some restructuring.

"We think they're going to lay some people off," said Miller. "There's going to be a lot of restructuring, there's going to be a lot of charges. But fiscal 2014 looks pretty good," he said.

Before the announcement, Disney closed up 39 cents at $54.29 on the New York Stock Exchange.

(Editing by Leslie Gevirtz, Bernard Orr and Edwina Gibbs)

By Ronald Grover and Sue Zeidler

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WALT DISNEY CO
12/09 WALT DISNEY : A Breathtaking New Land of Fantasy Highlights A New Year Full of M..
12/08DJABC Advertising Sales Chief Geri Wang To Step Down
12/08DJLego CEO Sees Potential for Brand in Digital Products
12/08 WALT DISNEY CO : ex-dividend day
12/02 WALT DISNEY CO/ : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Yea..
12/02 Trump creates business advisory council stacked with CEOs
12/01 DAILY DIVIDEND REPORT : Dis, td, slg, cor, lzb, msft, vz
11/30 THE WALT DISNEY COMPANY : Declares Semi-Annual Cash Dividend of $0.78 Per Share
11/29 MERLIN ENTERTAINMENTS : forecasts profit growth this year
11/24DJWALT DISNEY : ESPN Subscriber Numbers Decline Again
More news
Sector news : Broadcasting - NEC
12/09DJTWENTY FIRST CENTURY FOX : 21st Century Fox in Talks to Buy U.K.'s Sky -- Update
12/09 FTSE records best week since July, Sky surges 27 percent on Fox bid
12/09DJTWENTY FIRST CENTURY FOX : 21st Century Fox in Talks to Buy U.K.'s Sky -- 2nd Up..
12/09DJTWENTY FIRST CENTURY FOX : 21st Century Fox in Talks to Buy U.K.'s Sky -- Update
12/09DJTWENTY FIRST CENTURY FOX : 21st Century Fox Makes Offer for U.K.'s Sky
More sector news : Broadcasting - NEC
News from SeekingAlpha
12/10 MONTHLY REVIEW OF DIVGRO : November 2016
12/09 DISNEY : Trump Train Dumps Star Wars
12/09 Will Dividend Growth's Golden Age Give Way To A Dark One?
12/09 Trump Vs. GrubHub, And The Boycotts That Matter
12/08 The FCC Takes On AT&T And Verizon's Media Goals
Advertisement
Financials ($)
Sales 2017 57 629 M
EBIT 2017 15 065 M
Net income 2017 9 438 M
Debt 2017 16 698 M
Yield 2017 1,49%
P/E ratio 2017 17,70
P/E ratio 2018 15,80
EV / Sales 2017 3,19x
EV / Sales 2018 3,01x
Capitalization 166 881 M
More Financials
Chart WALT DISNEY CO
Duration : Period :
Walt Disney Co Technical Analysis Chart | DIS | US2546871060 | 4-Traders
Full-screen chart
Technical analysis trends WALT DISNEY CO
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 106 $
Spread / Average Target 1,1%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Robert A. Iger Chairman & Chief Executive Officer
Christine M. McCarthy Chief Financial Officer & Senior Executive VP
John S. Chen Independent Director
Robert W. Matschullat Independent Director
Aylwin B. Lewis Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WALT DISNEY CO-1.62%166 881
COMCAST CORPORATION22.68%166 182
CBS CORPORATION34.90%29 267
SKY PLC-10.07%21 616
LIBERTY MEDIA GROUP0.00%15 480
GRUPO TELEVISA SAB-11.16%11 985
More Results